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The National Statistics Office (NSO) reported that the Harmonised Index of Consumer Prices in July went down to 121.92 from 122.24 in June, a decrease of 0.3 per cent.

This is primarily reflected a seasonal drop of 10.3 per cent in the Clothing and Footwear Index, due to lower prices of garments. Seasonally cheaper fruits were the main cause behind a decline of 0.8 per cent in the Food and Beverages Index. The Communication Index registered a decrease of 0.4 per cent, mainly on account of lower-priced mobile phones. The Transport Index went down by 0.2 per cent, mainly due to a decrease in the price of fuels. A downward movement in the prices of travel articles caused the Miscellaneous Goods and Services Index to edge down by 0.1 per cent.

The Restaurants and Hotels Index registered an increase of 1.7 per cent due to higher prices of accommodation services. Higher-priced package holidays underlay an increase of 0.9 per cent in the Recreation and Culture Index. The Housing, Water, Electricity, Gas and Other Fuels Index increased by 0.7 per cent, mainly due to costlier services for the maintenance and repair of dwellings. Higher fees charged for repair services caused the Furniture, Household Equipment and Routine Maintenance of the House Index to go up by 0.3 per cent. The Alcoholic Beverages and Tobacco Index rose by 0.2 per cent, mainly on account of higher prices of wine.

NSO added that In July the twelve-month moving average rate of inflation stood at 2.8 per cent, whereas the annual rate of inflation stood at 4.2 per cent.